Friday, November 20 2015 10:28

 China and Armenia maintain a high level of political confidence and the countries are ready to discuss the prospects of promotion of the cooperation in the context of the Silk Road project, Mr. Luo Shixiong, Political Advisor at the Chinese Embassy in Armenia, told reporters at the opening of the forum "Silk Road of XXI Century: Prospects of Cooperation".   

The diplomat said that the operations will be launched when "we find common interests and come to an agreement."  "Chinese President Xi Jinping's initiative of 2013 "One Belt, One Road"  - the Silk Road Economic Belt and the 21st Century Maritime Silk Route Economic  Belt - has received a positive response, said Gor Sargsyan, Director of the Confucius Institute. 

He said that at the moment over 120 countries have expressed their intention to join the project, nearly 10 countries are strategically considering coupling with China on the One Belt, One Road platform, and over 60 countries have already taken active measures. As regards the given region, Armenia, Iran and Georgia are involved in the project. Armenia used to be a part of the Great Silk Road and it can be a partner for both China and other participants in the project. The financial tool of the project is the Silk Road Foundation (China) with a $40 bln capital. The Foundation invests in the economies of the countries situated along the economic belt. 
The China-Armenia bilateral cooperation has demonstrated positive results. Over the past few years, China has been the second largest trade partner for Armenia. According to official statistics, during the first three quarters of 2015 the bilateral trade totaled $358 mln, with the Armenian export to China growing by 12%.  The Armenian Government expressed its willingness to contribute to the concept of the Silk Road Economic Belt. 

The Chinese enterprises consider their participation in construction of the North-South highway, feasibility study of the Armenia-Iran railway construction project, renovation of Agarak-2 and Shinuhayr power substations. In addition, the Chinese investors study the possible introduction of advanced technologies in cement production. To boost tourism, Air China is going to launch direct air service between Yerevan and Beijing. China has also come to an agreement with Armenia to strengthen investment cooperation in production of cement, copper and glass. 

According to the Chinese statistics, in Jan-Sept 2015 the countries situated along the One Belt, One Road line founded 1604 enterprises in China, 19% more than in Jan-Sept 2014, with the real foreign investments totaling $6.12 bln, 18.4% more than in Jan-Sept 2014. Foreign investments from Saudi Arabia amounted to $277 mln, Malaysia - $326 mln, and Singapore - $5.036 bln, which were by 812.2%, 164.1% and 12.6% more than in Jan-Sept 2014. 
Meanwhile, the Chinese enterprises made direct investments in 48 countries along the One Belt, One Road line - a total of $12.03 bln, with up to 66.2% year-over-year growth.

The funds were mostly invested in Singapore, Kazakhstan, Laos, Indonesia, Russia, Thailand and other countries. 

Analysts say that the One Belt, One Road initiative is the strategic task of the Chinese leadership. The Chinese concept meets the development needs of the countries along the Silk Road and will provide these countries with opportunities to strengthen completementarity, transparency and development.